RITES secures a contract of Rs 474.92 crore from Indian Railways

New Delhi: RITES Limited, a Govt of India owned transport infrastructure consultancy and engineering company, has been awarded a major turnkey contract of railways electrification of the Indian Railways. The value of the contract is worth about Rs 475 crore. The turnkey contract is a type of contract in which the contractor is responsible for both the design and construction of a facility. This is contrasted with build to order, where the constructor builds an item to the buyer's exact specifications, or when an incomplete product is sold with the assumption that the buyer would complete it. "RITES Limited has been awarded a contract for railway electrification works on competition basis amounting to Rs 474.92 crore. An MOU will be executed between RITES and the concerned Railway in this regard in due course" the RITES Limited said in a regulatory filing to the stock exchange on Monday. 

This turnkey contract majorly covers sections of Mavli-B.Sadri for 82 RKM, Udaipur City – Himmatnagar for 210 RKM, Bhatinda – Firozpur for 81 RKM and Gulbarga – Bidar for 110 RKM of NWR, NR and SCR respectively.

Also read: RITES announces share buyback at Rs 265 per share

RITES Limited

RITES Limited is a Miniratna PSU under the Ministry of Railways. It is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 46 years and has undertaken projects in over 55 countries including Asia, Africa, Latin America, South America and Middle East regions. RITES Limited is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

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